Millennium Management LLC Has $1.06 Million Stock Holdings in FinVolution Group (NYSE:FINV)

Millennium Management LLC lessened its holdings in shares of FinVolution Group (NYSE:FINV - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 155,873 shares of the company's stock after selling 112,611 shares during the quarter. Millennium Management LLC owned approximately 0.06% of FinVolution Group worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FINV. Vanguard Group Inc. boosted its position in shares of FinVolution Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,250,278 shares of the company's stock worth $35,649,000 after acquiring an additional 41,759 shares during the last quarter. Bank of America Corp DE increased its stake in FinVolution Group by 2.8% during the 4th quarter. Bank of America Corp DE now owns 3,162,853 shares of the company's stock worth $21,476,000 after buying an additional 84,863 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FinVolution Group by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,329,814 shares of the company's stock worth $15,820,000 after buying an additional 19,984 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in FinVolution Group by 20.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,217,497 shares of the company's stock valued at $15,057,000 after buying an additional 379,025 shares during the last quarter. Finally, Leading Securities Co Ltd acquired a new stake in shares of FinVolution Group during the fourth quarter valued at about $14,091,000. 31.15% of the stock is currently owned by institutional investors and hedge funds.

FinVolution Group Price Performance

Shares of NYSE FINV traded up $0.15 during mid-day trading on Monday, hitting $8.73. The company had a trading volume of 409,315 shares, compared to its average volume of 820,217. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08. The firm's 50 day simple moving average is $8.25 and its two-hundred day simple moving average is $7.93. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 7.53 and a beta of 0.37.

FinVolution Group (NYSE:FINV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.41 earnings per share (EPS) for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%. The company had revenue of $479.70 million during the quarter.

FinVolution Group Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 16th were issued a dividend of $0.277 per share. This is a boost from FinVolution Group's previous annual dividend of $0.24. This represents a dividend yield of 2%. The ex-dividend date of this dividend was Wednesday, April 16th. FinVolution Group's dividend payout ratio (DPR) is currently 15.33%.

FinVolution Group announced that its board has initiated a share repurchase program on Monday, March 17th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup raised FinVolution Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th. UBS Group upgraded shares of FinVolution Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.80 to $12.10 in a research note on Friday, May 23rd.

About FinVolution Group

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.